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Tax Blawg

Tax Talk for Tax Pros

Introduction

Welcome to TaxBlawg, a resource for news and analysis of current legal issues facing tax practitioners. Although blawg.com identifies nearly 1,400 active “blawgs,” including 20+ blawgs related to taxation and estate planning, the needs of tax professionals have received surprisingly little attention. The Wall Street Journal's Tax Blog gives “tips and advice for filers,” and Paul Caron’s legendary TaxProf Blog is an excellent clearinghouse for academic and policy-oriented news. Yet, tax practitioners still lack a dedicated resource to call their own. For those intrepid souls, we offer TaxBlawg, a forum of tax talk for tax pros.

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Congress Repeals Form 1099 Paperwork Burden

Anxious tax departments can rejoice!  By a 87-12 vote, the Senate passed legislation repealing the Form 1099 provision, which was included in health care reform.

Currently, Forms 1099 are required for payments of more than $600 to unincorporated service providers.  The health care reform bill expands this requirement for 2012 to goods as well as services and applies to all types of vendors.  Senate passage of the bill, which previously cleared the House, sends the bill to President Barack Obama for his signature.  Once signed into law, the additional information reporting requirement which was included in the health care reform bill, will not be required.

Categories: Employment Tax